Question
Which of the following loans is the most expensive? Loan X: APR=11.5%, compounded three times per year Loan Y: APR=11%, compounded monthly Loan Z: APR
Which of the following loans is the most expensive?
Loan X: APR=11.5%, compounded three times per year
Loan Y: APR=11%, compounded monthly
Loan Z: APR = 11.3%, compounded semi-annually
| Loan Z | ||
| They are all equally expensive | ||
| Loan X | ||
| Loan Y |
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Investments An Introduction
Authors: Herbert B. Mayo
13th Edition
0357127951, 978-0357127957
